Jan 24 (Reuters) - Australian shares are poised to edge higher on Wednesday, inspired by gains on Wall Street, while weaker iron ore and base metal prices might weigh down material stocks.
U.S. stocks advanced on Tuesday, as strong results from Netflix helped lift the S&P 500 and Nasdaq Composite . Chinese iron ore futures dropped 4 percent overnight, while copper prices fell to their lowest in a month after rising inventories showed healthy supplies of refined metal.The local share price index futures rose 0.3 percent or 17 points to 6,003, a 34-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 45.1 points on Tuesday.
New Zealand's benchmark S&P/NZX 50 index rose 0.2 percent to 8,325.18 in early trade.
(Reporting by Sandhya Sampath in Bengaluru; Editing by Alison Williams)
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